Veterinary Laboratory Testing Services Market - Forecast(2022 - 2027)

Report Code: HCR 0648 Report Format: PDF + Excel

Veterinary Laboratory Testing Services Market Overview

Veterinary Laboratory Testing Services Market size is projected to reach $17,700 million by 2026, growing at a CAGR of 5.9% over 2021-2026. The purpose of veterinary laboratory testing is to diagnosis infections and other different kinds of diseases among animals. Veterinary laboratory testing services are performed by using a real-time PCR testing machine and the nucleic acid extraction instrument. Veterinary laboratory testing services are providing services in the field of pathology, serology, hematology, and many more. In veterinary services, radiography is the most common imaging procedure where small equipment is used for the diagnosis of animals such as cats, dogs, etc., and portable equipment is used in the large animal clinic that treats horses and other large animals. In medical and research fields in vivo testing is used that helps to test the safety of drugs before they are used on patients. Toxicology testing supports veterinary laboratory services as it focuses on identifying and quantify the drugs, metals, and other potential toxicants as well as nutritional analysis for vitamins and minerals. Increasing prevalence of the disease among animals rising the cases of foodborne disease and growing advancement in veterinary diagnostic tools increasing the development in services of the veterinary laboratory is the major factor driving the growth of Veterinary Laboratory Testing Services Market. Furthermore, growing research and development activities in the healthcare sector are set to further enhance the overall market demand for Veterinary Laboratory Testing Services Market for the period 2021-2026. 

Report Coverage

The report: “Veterinary Laboratory Testing Services Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Veterinary Laboratory Testing Services Market.
By Technology: Molecular Diagnostics, Immunodiagnostics, Hematology, Clinical Biochemistry, and Others.
By Animal: Companion Animal, and Livestock Animal.
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).

Key Takeaways

  • In 2020, North America dominated the Veterinary Laboratory Testing Services Market owing to rising development in the healthcare sector and growing adoption of advanced technologies for the treatment of various diseases. Moreover, the rising incidence of diseases in pet dogs and rising the adoption of veterinary laboratory testing to diagnose the disease properly which in turn is enhancing the market growth.
  • Increasing prevalence of infectious disease among animals, rising cases of foodborne diseases, and growing advancement in veterinary diagnostic tools are increasing the development in services of veterinary laboratories, improving the growth of the Veterinary Laboratory Testing Services Market. 
  • The prominent manufacturers operating in the market will be provided a detailed analysis of Strengths, Weaknesses, and Opportunities in the Veterinary Laboratory Testing Services Market report.
  • Lack of awareness regarding the healthcare of animals is set to create hurdles for the Veterinary Laboratory Testing Services Market.

Veterinary Laboratory Testing Services Market Segment Analysis – By Technology

The Veterinary Laboratory Testing Services Market based on Technology can be further distributed into Molecular Diagnostics, Immunodiagnostics, Hematology, Clinical Biochemistry, and Others. The Molecular Diagnostics segment is the major segment generating revenue in 2020. Molecular diagnostics are using molecular-based methods such as real-time and quantitative PCR in order to taste a wide range of pathogens in animals. Moreover, it provides faster and highly sensitive detection in the diagnosis of infectious diseases that are growing the adoption of molecular diagnostics in veterinary laboratories. The Hematology segment is estimated to register the fastest CAGR of 6.1% for the period 2021-2026. This is mainly owing to the growing need for blood samples to diagnose the disease increasing the need for hematology technology in the laboratory and further propelling the growth of the Veterinary Laboratory Testing Services Market.

Veterinary Laboratory Testing Services Market Segment Analysis – By Technology

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Veterinary Laboratory Testing Services Market Segment Analysis – By Animal

The Veterinary Laboratory Testing Services Market based on Animal can be further segmented into Companion Animal and Livestock Animal. The Companion Animal segment registers for the highest Veterinary Laboratory Testing Services Market share in 2020. This is mainly owing to the rising adoption of companion animals in households thereby increasing the need for veterinary testing services as these animals are infected quickly due to the rising adoption of molecular diagnostics in order to diagnose the disease quickly. The Livestock Animal segment is forecasted to register the fastest CAGR of 6.7% over 2021-2026. Recently, the infectious diseases among livestock animals such as cattle, poultry are increasing and hence the demand for testing in the laboratory is expanding. Moreover, with the help of veterinary laboratory testing, the diagnosis of diseases in animals becomes fast which helps to reduce the infections which in turn propelling the growth of the Veterinary Laboratory Testing Services Market.

Veterinary Laboratory Testing Services Market Segment Analysis – By Geography

North America dominated the Veterinary Laboratory Testing Services Market with a major share of 45% in 2020. This is owing to rising development in the healthcare sector, growing adoption of advanced technologies for the treatment of various diseases. Moreover, the rising incidence of diseases in pet dogs is rising the adoption of veterinary laboratory testing to diagnose the disease properly which in turn is enhancing the market growth. Periodontal disease is one of the most common diseases that affected 80% of dogs in the U.S in 2020 and rising the demand for veterinary laboratory testing services.

However, Asia Pacific is projected to be the growing market during the forecast period 2021-2026 owing to growing healthcare expenditure and increasing healthcare infrastructure that is rising the development in veterinary laboratory testing services. Moreover, rising technologies in the field of the healthcare sector in various Asian countries such as china, japan, India helps in enhancing the market growth.

Veterinary Laboratory Testing Services Market Drivers

Increasing prevalence of the infectious disease among animals is rising the cases of foodborne disease and thus growing the adoption of veterinary laboratory testing services

Increasing cases of infectious diseases among animals rising the number of foodborne diseases that growing the adoption of veterinary laboratory testing services. According to World Health Organization, in 2020 about 600 million people are suffering from foodborne diseases that are rising the need for testing for animals. Moreover, livestock animals such as poultry, cattle contains zoonotic pathogens in their intestine that also causes foodborne diseases. According to the Center for Disease Control and Prevention(CDC), 6 out of 10 known infectious diseases in people are transferred from animals, owing to this CDC works 24/7 to protect people from zoonotic diseases that are growing the adoption of veterinary laboratory testing services and thus propelling the growth of the market over the period 2021-2026.

Growing advancement in veterinary diagnostic tools increases the development in the services of veterinary laboratories

Rising advancement in technology in veterinary diagnostics is increasing the development in the services of veterinary laboratories. Recently, various companies are using multiple testing in order to diagnose diseases rapidly and accurately. Recent advances in the development of technology for personalized human medicines are also rising the improvement in prototype diagnostic tests for a wide selection of diseases of livestock. Moreover, rising technological advancement provides cost-effective technologies to detect the diseases which in turn boosting the growth of the Veterinary Laboratory Testing Services Market over the period 2021-2026.

Covid-19 Impact: 

COVID-19 pandemic had greatly impacted the growth of the Veterinary Laboratory Testing Services Market. During the pandemic, the need for veterinary laboratory testing increases in order to diagnose the diseases as many people are suffering owing to the rising virus that is growing the research on laboratory increases which are positively impacted the growth of the Veterinary Laboratory Testing Services Market.

Veterinary Laboratory Testing Services Market Challenges 

Lack of awareness regarding the healthcare of animals is restraining the growth of Veterinary testing services 

The factor that is set to impede the growth of the Veterinary Laboratory Testing Services Market is the lack of awareness regarding the healthcare of animals. According to World Animal Protection, about 10 million dogs are abused every year that is rising the lack of awareness about the health of animals. Moreover, there is a lack of knowledge among humans on animal diseases which rising the spread of diseases among humans and also rising the deaths of animals. This factor creates carelessness to take care of animals which is set to challenging the market.

Veterinary Laboratory Testing Services Market Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Veterinary Laboratory Testing Services Market. Veterinary Laboratory Testing Services top 10 companies are 
  1. Biomerieux SA, 
  2. IDEXX, 
  3. Thermo Fisher Scientific, 
  4. Zoetis, Inc, 
  5. Medical Laboratories, 
  6. GD Animal Health, 
  7. Randox Laboratories Ltd., 
  8. Heska Corporation, 
  9. Pfizer Animal Health, 
  10. Neogen Corporation.

Development

  • In 2020, IDEXX launched SARSCoV-2 RealPCR Test for pets that is rising the demand for veterinary laboratory testing services.

Relevant Reports:

Report Code: HCR 0422
Report Code: HCR 0058

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1. Veterinary Laboratory Testing Services Market Overview
    1.1 Definitions and Scope
2. Veterinary Laboratory Testing Services Market Executive Summary
    2.1 Market Size and Key Trends
    2.2 Key trends by Technology
    2.3 Key trends by Animal
    2.4 Key trends by Geography
3. Veterinary Laboratory Testing Services Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Product Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Veterinary Laboratory Testing Services Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Veterinary Laboratory Testing Services Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Veterinary Laboratory Testing Services Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Veterinary Laboratory Testing Services Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Veterinary Laboratory Testing Services Market– By Technology (Market Size -$Million/$Billion)
    8.1 Molecular Diagnostics
    8.2 Immunodiagnostics
    8.3 Hematology
    8.4 Clinical Biochemistry
    8.5 Others
9. Veterinary Laboratory Testing Services Market– By Animal (Market Size -$Million/$Billion)
    9.1 Companion Animal
    9.2 Livestock Animal
10. Veterinary Laboratory Testing Services Market- By Geography (Market Size -$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U.K.
        10.2.2 Germany
        10.2.3 Italy
        10.2.4 France
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Australia
        10.3.3 Japan
        10.3.4 South KoreaText Box: 06
        10.3.5 India
        10.3.6 Rest of Asia-Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Others
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Veterinary Laboratory Testing Services Market Entropy
12. Veterinary Laboratory Testing Services Market- Industry / Segment Competition landscape Premium Premium
    12.1 Market Share Analysis
        12.1.1 Market Share by Country- Key companies
        12.1.2 Market Share by Region- Key companies
        12.1.3 Market Share at Global Level- Key companies
        12.1.4 Competition Matrix
        12.1.5 Best Practices for Companies
13. Veterinary Laboratory Testing Services Market- Key Company List by Country Premium Premium
14. Veterinary Laboratory Testing Services Market Company Analysis
    14.1 Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10
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